Fintech lender MPowered Mortgages has cut residential fixed rates by up 0.76 per cent for two, five and 10-year fixed products.
The reductions will apply across its product range, including its purchase and remortgage applications.
Two-year fixed rates with a £999 arrangement fee have been cut by up to 0.46 per cent and start from 5.79 per cent.
Fee-free two-year fixed rates have been cut by up to 0.51 per cent and now start from 6.04 per cent.
Rates on five-year fixed rates with £999 arrangement fee have decreased by up to 0.15 per cent and start from 5.24 per cent. Its fee-free version have decreased by up to 20 basis points and begin from 5.44 per cent.
MPowered Mortgages’ 10-year fixed rate products with a £999 arrangement fee have fallen by around 0.68 per cent and are priced from 5.09 per cent. Fee-free products have been cut by 0.76 per cent and start at 5.33 per cent.
Remortgage applications also come with £500 cashback on completion.
Emma Hollingworth (pictured), director of mortgages at MPowered Mortgages, said: “Despite the base rate rising by a further 75 basis points, we at MPowered Mortgages are committed to keeping rates as low as possible to support homebuyers through these challenging times.
“This move is one of the many initiatives we have launched to ease the burden of buying a home or remortgaging in the current market. We will work with the industry and policymakers to do everything we can to keep rates as low as possible.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
